William, I have thought VVID was undervalued for a long time, but it just keeps going lower. Since Jan. 1997 the chart has fallen consistently, despite enough worldwide trouble to get them moving. (similar story for competitor INVN) I have not reviewed their sales recently, but as I recall their early success overseas did not replicate itself in this country and that turned many sour on their prospects. For those not familiar with VVID here is some info from the company:
Company description:
Vivid Technologies, Inc. is a leading developer and manufacturer
of automated inspection systems that detect plastic and other
explosives. Vivid's family of advanced explosives detection systems
can be used to screen checked and carry-on luggage in an airport
application and to enhance building security by screening bags and
parcels.
Vivid's systems identify targeted materials by analyzing the
physical characteristics of each item in a bag, including the atomic
number and mass, using patented composition analysis techniques and
proprietary dual-energy X-ray technology. These systems automatically
(without the use of an operator) isolate and identify targeted
materials within a bag, thereby preventing a suspect bag from being
loaded into an aircraft or entering a building until cleared by
operator inspection. Vivid's systems can also be used to identify
drugs and currency.
Vivid's systems have been selected for use at numerous airports
around the world including London's Heathrow and Gatwick Airports,
Paris' Charles de Gaulle and Orly Airports, Kuala Lumpur International
Airport in Malaysia, Hong Kong International Airport at Chek Lap Kok,
Amsterdam Schiphol and Terminal One at JFK International Airport.
For the fiscal year ended September 30, 1998, Vivid posted total
sales of $38.7 million and net income of $6.6 million or $.65 per
share. During fiscal 1998, shares of Vivid's stock traded at a high of
$16.50 and a low of $6.875.
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